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Lotte Duty Free (LDF; Korean: 롯데면세점; Hanja: 樂天免稅店; RR: Rotde Myeonsejeom), a duty-free division of Hotel Lotte, is a travel retailer headquartered in Seoul, South Korea. LDF is one of the largest travel retailers in the world alongside Dufry and DFS Group .
In order to secure a duty-free deal for Lotte, Shin was accused of donating ₩7 billion (US$6.12 million) to a non-profit controlled by incumbent President Park Geun-hye's close friend Choi Soon-sil. [29] On 13 February 2018 Shin was fined ₩7 billion (US$6.12 million) and sentenced to 2.5 years incarceration. [30]
It was launched on 21 November 2000 and closed on 13 March 2001. Three days later, the successful tenderers, Boulevard Development Pte Ltd, Comina Investment Limited and Freyland Pte Ltd, was announced. A new company, One Marina Boulevard Pte Ltd, was incorporated to develop the land parcel. [7] Currently, the land parcel is on a 99-year lease.
Lotte Group is a corporate group started by Zainichi Korean businessman Shin Kyuk-ho in Tokyo on June 28, 1948, starting with the Japanese Lotte Co., composed of Lotte Holdings (Japan) and Lotte Corporation (South Korea).
Lotte Holdings Co., Ltd. (株式会社ロッテホールディングス, kabushiki gaisha Rottehōrudingusu) is a Japanese multinational holding company which focused on confectionery and ice cream processing, hotels and sport management. The company was founded in June 1948 by Korean businessman Shin Kyuk-ho.
Lotte Group was originally established in Japan and expanded into South Korea with the establishment of Lotte Confectionery Co., Ltd in 1967. Lotte Group consists of over 60 business units in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment.
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[7] In March 2009, Lotteria took full control of the South Korean branch of T.G.I. Friday's. [7] It had previously invested 10 billion won in the chain in 2002. [8] Lotteria also runs Natuur, one of South Korea's major ice cream franchises, [9] [10] itself introduced to South Korea by Lotte in 1998. [11] Lotteria is also famous for shrimp burgers.